U.S. President Donald Trump announced on Monday that he was firing Federal Reserve governor Lisa Cook, intensifying his push to assert influence over the central bank. In a post, Trump cited allegations from ally Bill Pulte that Cook made false statements on a 2021 mortgage application. Federal law permits Fed governors to be removed only “for cause,” and Trump said Cook’s actions met that threshold. In a letter to Cook, he wrote: “The American people must be able to have full confidence in the honesty of the members entrusted with setting policy and overseeing the Federal Reserve. In light of your deceitful and potentially criminal conduct in a financial matter, they cannot and I do not have such confidence in your integrity.”